|Featured in this Asia Pacific Hospitality Newsletter - Week Ending 2 May 2008|
|Raffles Hotels And Resorts To Open Raffles Jakarta In 2011||Return to Headlines|
Raffles Hotels and Resorts has announced the proposed opening of Raffles Jakarta located at Jakarta's central business district, 'The Golden Triangle', in 2011. Raffles Jakarta is expected to be part of a mixed-use development, Ciputra World Jakarta, which comprises a shopping mall, office buildings, residential apartments and an art museum. The hotel is expected to offer 180 rooms and suites ranging from 60 square metres to 240 square metres, as well as 80 Raffles Residences for private ownership. Additionally, the hotel is likely to offer five food and beverage outlets, including two restaurants and three bars, a 2,500-square-metre ballroom and four meeting rooms, as well as a 1,100-square-metre signature RafflesAmrita Spa. Raffles Jakarta is owned by PT Ciputra Property Tbk (CTRP), a subsidiary of Ciputra Group which specialises in large-scale integrated projects and mixed-use developments.
|Japan's Resort Solution Company Limited To Add More Than 10 Hotels Yearly||Return to Headlines|
|Japan's Resort Solution Company Limited (Resort Solution) has announced plans to develop and operate 10 or more hotels per year and expand its hotel properties from 15 at present to 50 in 2011. Resort Solution is expected to open new Hotel Trinity branded city hotels and the new-format, Hotel Resol branded units. The new hotels are expected to offer 50 to 200 guestrooms and will be leased and operated after being developed. Located in Tokyo's Ikebukuro District, the first Hotel Resol is scheduled to be opened in 2009 and offer 159 rooms.|
|Melco China Resorts Launches Luxury Ski And Leisure Resorts In China||Return to Headlines|
|Melco China Resorts (MCR), a subsidiary of Hong Kong's Melco International Development Limited, has revealed its development plans to transform five existing ski areas in northeastern provinces of Heilongjiang and Jilin into luxury mountain resorts. Currently, MCR's core focus is at the Yabuli Sun Mountain Resort; a ski resort destination located approximately two hours southeast of Harbin City in the Heilongjiang Province, which will host the World Winter University Games in early 2009. MCR intends to develop three premium hotels at Yabuli, including a 24 all-suite boutique mountain top hotel. In addition, MCR will also upgrade the Sky Mountain Beidahu and Star Mountain Beijing resorts, while the Adventure Mountain Changchun Resort and members-only Lotus Mountain Club development are expected to be completed by 2009. According to China Ski Association, between 1999 and 2004, the number of ski visits in China registered a compound annual growth rate of 109% and exceeded a total of four million visits. By 2010, this figure is expected to increase to ten million.|
|Malaysia's IGB To Open Four More Cititel Express||Return to Headlines|
|Malaysia's property player, IGB Corporation Berhad (IGB), has announced plans to open four Cititel Express hotels in Ipoh, Kota Kinabalu, Kuching and Penang, Malaysia by 2010. The total development cost of the four projects is estimated to be US$38 million, translating to a cost of approximately US$38,000 per room. According to IGB, they are also looking to establish their presence in Sydney and Bangkok and keen to own and manage the new properties. In 2007, all of their hotels in the group except the MiCasa All Suite Hotel in Yangon posted net profits, with gross operating profits in the 60% range.|
|Golden Tulip Looking To Expand In Southeast Asia||Return to Headlines|
|Switzerland-based Golden Tulip Hospitality Group has announced that it is likely to open 40 hotels across ten Asian countries by 2012, with five projects already confirmed in Bangkok, Samui, Phuket and Phnom Penh. The group's Bangkok-based subsidiary, Golden Tulip Southeast Asia, is also currently in the midst of planning and consideration for opening of new properties in Singapore, Vietnam, Malaysia, Indonesia and Cambodia. The group is expected to invest a total of US$800 million in Southeast Asia and it also announced that it is setting up a hotel property investment fund to finance future projects.|
|The Ritz-Carlton Opens In Sanya, Hainan Island||Return to Headlines|
The 450-room Ritz-Carlton has introduced luxury living into Sanya of Hainan Island, China. The luxury resort hotel, which is located 40 minutes from Sanya Phoenix International Airport, features a total of 450 hotel room accommodation and private villas with eight food and beverage outlets, a spa with 24 private rooms and a designer shopping arcade. In addition, the hotel offers 1,700 square metres of flexible meeting facilities. According to Ritz-Carlton, Sanya bears the potential to be a global resort destination due to its offerings of picturesque natural environment.
|Absolute Share Price Performance, as at 2 May 2008|